A weaker dollar is bullish for multinational firms, as it can make goods more attractive abroad and lift profits. Lower rate expectations have also fueled a recent decline in the dollar, Renaissance Macro pointed, with the US Dollar Index slipping to 102 on Friday, down from a peak of 107 in early January. That's increased the proportion of winning stocks in the benchmark index, a positive sign for the market. But small-cap stocks have rallied in recent weeks as investors dial up their expectations for the Fed to slash interest rates next year. According to data from Kaiko, the average trade size for BTC on exchanges increased from $850 → $2000+ after the Grayscale ruling.Some investors have been concerned if the recent rally in stocks can last, given that only a small group of mega-tech stocks have dominating the S&P 500 all year. It’s slowly also rolling out swap features that let users trade ETH for 200+ different assets.īitcoin’s average trade size has jumped to its highest point since June. Robinhood has added support for Bitcoin and Dogecoin to its crypto wallet. Mercado Pago is one of the largest fintech companies in Latin America. Ouch.Ĭircle is teaming up with Mercado Pago to offer USDC as a payment option. It’s the highest week of outflows since March. It’s not if, it’s when.Īccording to the latest Coinshares crypto fund report, institutional funds sold off $168M in crypto last week. There’s a 95% chance it will happen by the end of 2024. “ There’s a 75% chance a Bitcoin spot ETF will launch this year” – Bloomberg analysts. The largest blockchain event in Europe takes place in Barcelona, with one day left to get a discounted price on tickets.* The European Blockchain Convention kicks off on October 24th. government and Binance is just beginning… Which is why he thinks the secret SEC filing likely relates to an ongoing DOJ investigation of Binance – which the DOJ would prefer to keep a secret.Įven though crypto has gotten a few legal wins recently, the battle between the U.S. John’s Take: In his 20 years at the SEC, he says he can’t recall ever seeking to file a motion, or any other court document, under seal… (But John mentioned this usually involves redactions vs. The SEC’s new motion could have info that potentially jeopardizes the investigation.Ģ/ To protect a witness or company from risk. The DOJ could be working with whistleblowers, have wires or other listening devices in place, or have an active arrest warrant or undercover operation in the works. There are 2 reasons John thinks the SEC made this move:ġ/ The sealed motion could have secret details about an ongoing investigation by the U.S. He’s spent 20 years in the SEC Enforcement Division, including 11 years as Chief of the SEC’s Office of Internet Enforcement. So, why keep the motion under seal? Well, who better to answer than a former SEC official… ![]() ![]() ![]() The SEC is like your mom at family gatherings – they tell everyone all your deepest darkest secrets. The agency usually wants its messages heard loud and clear to scare others from committing the same violations. The SEC is a civil enforcement agency that typically files everything in the open. Why this matters: This caught a lot of crypto’s attention because it’s highly unusual… This motion lets the SEC file sensitive and confidential information with a court, but it’s kept off any public record. Securities and Exchange Commission filed a secret “sealed” motion against Binance.
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